Now that the the Input-Output Modelling tool, for Analyst, is available (read previous blog post here), it is time to take a closer look at one of the new reports, Regional Requirements.
Regional Requirements is just one of six new reports available in Analyst under the Input-Output Module. The report helps quantify the goods and services that a region requires from each industry, as well as the degree to which those requirements are met within the region.
This report can be used to perform comparative analysis of industries across the regions. It can answer questions like:
- What value of purchases industries are making inside a region?
- What value of purchases industries are making outside a region?
- Where jobs are potentially leaking as a result?
This report gives the user two perspectives:
- Region vs. Industry: what industry demands are being satisfied from within, and beyond the boundaries of a region?
- The regional supply chain, in the broadest sense, is characterized by the industries within the region
Economic development officials can use this data to enhance their efforts accordingly. This data can help identify and support:
- What are all the industries in a region?
- What industries are primarily using imports to service their needs?
- Which industries may be able produce locally to reduce or substitute imports?
- What jobs are need to for import substitution to be locally sustainable?
This report identifies where local demand is being sourced from and whether it is inside or outside the region.
First, identify the region(s) you want and click Run.
A similar table to the one below will appear. Find what level of industry you need by changing the level of NAICS codes, and based on the level you can filter by that NAICS industry.
Demand Met In-Region: amount spent on an industry by all business and population in the given region met within the regional economy
Demand Met by Imports: amount spent on an industry by all business and population in the given region met outside the regional economy
Clicking on any of the column titles will order the table in ascending/descending order to easily find the highest/lowest dollar amount or percentage.
Moreover, selecting the Export button in the top right corner gives you the option to save your findings as an excel file.
One more blog post to come regarding Input-Output Modelling in Analyst.